An asset search is a specialized type of investigation. The number one reason asset investigations are conducted is for the purpose of satisfying court ordered judgments. Asset searches are also conducted to see if an individual or entity such as a corporation, limited liability company or limited partnership is worth pursuing in a lawsuit. Asset searches are also useful in verifying the financial stability of a future business partner.
The Most Sought After Asset:
Liquid Assets such as bank accounts, savings accounts, certificates of deposits, brokerage/investment accounts are the most sought after type of asset. There are no databases for this type of information. A good private investigation company who specializes in asset investigations such as Intelligence West can obtain this type of information. Liquid assets are the simplest way to satisfy a judgment.
Real Property, Automobiles & Boats:
Searching for real property, automobiles and boats are available on most subscription based databases. This part of the investigation is conducted utilizing a trust worthy database such as TLO or LexisNexus. Most licensed private investigators have access to these types of databases. An asset search can be conducted on individuals, corporations, limited liability companies, general partnerships and trusts.
Many times an individual for unscrupulous reasons will attempt to hide assets. The creation of dummy corporations or limited liability companies is one way. Contrary to popular belief putting liquid assets in someone else’s name is rarely seen. The receiver of the money would have to explain to the IRS the sudden large sum of money into their bank account. All banks and credit unions report to the IRS any deposit or withdraw of $10,000 or more. The IRS Form 8300 is used to report these transactions.
Every state maintains a depository for unclaimed money. This is money from unclaimed bank accounts, investment accounts, insurance policies and other unclaimed funds. This link will show where you can check for FREE for unclaimed money in all 50 states -> https://unclaimed.org/
A reputable private investigation company who specializes in asset investigations
could find you millions of dollars in assets. Asset location is a specialized field and not every private investigation company is qualified. Look for a reputable private investigation firm who specializes in asset searches.